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Use the following information to answer this question. Windswept, Inc. 2010 Income Statement ($ in millions) Net sales $ 9,600 Less: Cost of goods sold
Use the following information to answer this question. |
Windswept, Inc. 2010 Income Statement ($ in millions) | |
Net sales | $ 9,600 |
Less: Cost of goods sold | 7,810 |
Less: Depreciation | 470 |
Earnings before interest and taxes | $ 1,320 |
Less: Interest paid | 106 |
Taxable Income | $ 1,214 |
Less: Taxes | 425 |
Net income | $ 789 |
Windswept, Inc. 2009 and 2010 Balance Sheets ($ in millions) | |||||
2009 | 2010 | 2009 | 2010 | ||
Cash | $ 240 | $ 270 | Accounts payable | $ 1,410 | $ 1,410 |
Accounts rec. | 1,020 | 920 | Long-term debt | 1,110 | 1,310 |
Inventory | 1,840 | 1,710 | Common stock | $ 3,360 | $ 3,280 |
Total | $ 3,100 | $ 2,900 | Retained earnings | 650 | 900 |
Net fixed assets | 3,430 | 4,000 | |||
Total assets | $ 6,530 | $ 6,900 | Total liab. & equity | $ 6,530 | $ 6,900 |
What is the quick ratio for 2010? |
1.21
0.82
2.06
1.87
0.84
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